BENGALURU, India --- The HAL management and its workforce entered into an agreement to settle the wage revision. A Memorandum of Understanding (MoU) was signed at HAL Corporate Office here yesterday between the HAL management and its Trade Unions.
The MoU envisages revision of wage structure with effect from January 1, 2017, productivity improvement and other related matters.
As part of the wage revision, the HAL management has offered fitment benefit @ 12% and perks & allowances under cafeteria system (@ 25% for workmen in scale 1 to 10 and @ 22% for workmen in special scale) of the revised Basic Pay effective from January 1, 2017, besides other benefits.
Upon ratification of the Board of Directors, a tripartite settlement before the labour authorities will be executed at different locations of the Company before notifying the revised wage structure.